Brent quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, the price is expected to rebound from 3/8 (85.94) and drop to the support of 1/8 (82.81). The scenario can be cancelled by rising above the 3/8 (85.94) mark. In this case, Brent quotes might climb to the resistance at 5/8 (89.06).
On M15, a breakout of the lower boundary of the VoltyChannel could increase the probability of a further price decline.
S&P 500
The stock index quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has broken the support line. In this situation, the price is expected to continue falling to the nearest level of 3/8 (4296.9). The scenario can be cancelled by rising above the resistance level of 4/8 (4375.0), which could lead to a trend reversal and a price rise to 5/8 (4453.1).
On M15, the lower boundary of the VoltyChannel is broken, which increases the probability of a price decline.
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.